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E-Money, a well-known Lagos socialite and businessman, was taken into custody by the Economic and Financial Crimes Commission (EFCC) over allegations of violating the Foreign Exchange Act. He is accused of spraying foreign currency, specifically U.S. dollars, at a public event—an act considered unlawful under Nigerian financial regulations.
Following his arrest, E-Money was reportedly transported to Abuja on Tuesday morning, where he is set to face further questioning by EFCC investigators. Additionally, he has been linked to incidents involving the abuse of the naira.
The arrest of Emeka Okonkwo Daniel, popularly known as E-Money, highlights the importance of adhering to regulations designed to protect the integrity of both the naira and foreign currencies in Nigeria.